RIL shares dip 3% post Q3 earnings

NEW DELHI, Jan 17: Shares of Reliance Industries today fell by almost 3 per cent after the company’s third quarter earnings failed to cheer investors.
After making a weak opening, shares of the company further lost 2.96 per cent to Rs 1,045.05 on BSE.
On NSE, it dipped by 2.98 per cent to Rs 1,044.15.
Reliance Industries yesterday reported a 3.6 per cent rise in its third quarter net profit after a dip in refinery margins which was offset by robust petrochemical earnings.
Consolidated net profit of Rs 7,506 crore, or Rs 25.4 a share, in October-December, was 3.6 per cent higher than Rs 7,245 crore, or Rs 24.5 per share, in the same period a year back, the company said in a statement.
RIL, which owns the world’s largest refining complex, earned USD 10.8 on turning every barrel of crude oil into fuel as compared to a gross refining margin (GRM) of USD 11.5 in third quarter of 2015-16 fiscal.
Turnover was up 16.1 per cent at Rs 84,189 crore.
Standalone profit for the December quarter was up 10 per cent at Rs 8,022 crore. (PTI)